Phase One Credit Repair

We can not stress how much debt to income ratio is important. This provide lenders how much you can get and which terms you receive.

If you ask to borrow $20k for debt consolidation. Here are some factors that are considered when approving you

1. Good Payment History show you are responsible and show good faith to the lender that you are going to pay them back.

2. Open accounts shows the lender if something ever goes wrong "How are you going to pay me and you owe Peter and Paul". Too many High balances can either get you denied or a high interest rate.

3. Utilization is just as important to paying your bills on time. Utilization shows "yes, I borrowed money from you it's secondary, not my main source". This will have companies increasing you spending limits because your barely spending their money now.

4. Too many Charged Off Accounts - this is simple if you have two loans that are charged off and now you looking for a third loan chances are that's a denial waiting too happen because they see a pattern that you don't like paying loans back.

Phase One Credit Repair appreciates you!!